Can You Use a VA Loan to Buy a Duplex in Lakewood?

If you’re like many people who qualify to use a loan from the Department of Veterans Affairs, you're wondering whether you can use a VA loan to purchase a duplex – and the simple answer is yes. Here's what you need to know.

Can You Use a VA Loan to Buy a Duplex in Lakewood?

The Department of Veterans affairs backs home loans for former service members, qualifying dependents, some former government employees, and others. You can use these government backed home loans to purchase an investment property in some cases. However, if you choose to use one of these loans to purchase an investment property, you need to know that you must live in the property as your primary residence for at least three years. (The exception is when you sell the property and satisfy the VA loan.)

Does That Mean You Can Buy a Duplex in Lakewood With a VA Loan?

You can use your VA loan benefit to purchase a duplex in Lakewood. In fact, you could use it to purchase a triplex or fourplex, too. You can't use a VA loan to purchase a property that has more than four dwelling units.

Remember, too, that you must live in one of the units in order to qualify to use your VA loan for a purchase like this.

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Why Would You Use Your VA Loan to Buy a Duplex in Lakewood?

Many investors feel that using a VA loan to buy a duplex, triplex or fourplex is a smart idea. That's because you can live in one unit while renting out the remaining units to tenants. If you charge the right amount in rent, you'll be able to cover your monthly mortgage payments without coming out of your own pocket. You may even be able to make more than you need, which means you can turn around and put your profits into upgrading and maintaining the home, or you can use them to fund additional real estate investments.

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Are You Buying or Selling a Home in Lakewood?

If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our Lakewood real estate listings to find your dream home today!

You can also browse:

Long Beach real estate listings

Anaheim real estate listings

Bellflower real estate listings

Signal Hill real estate listings


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